WASHINGTON–The National Retail Federation has asked President-elect Barack Obama to include a series of national sales-tax holidays into his economic stimulus package.
In a letter to Obama, the NRF referred to such days as a short-term stimulus. “Retailers’ considerable experience with state sales-tax holidays has shown that they provide a substantial inducement for people to shop,” the NRF wrote in the letter. The federation recommended three national sales-tax holidays that would cover “a very broad range of goods,” and that would each last for 10-day periods in March, July and October. The NRF also said such tax holidays are “the most efficient and cost-effective way to address the needs of the consumer.”
The letter to Obama was signed by Myron Ullman, chairman and chief executive officer of J.C. Penney; Philip Francis, chairman and CEO of PetSmart; Stephen Sadove, chairman and CEO of Saks Inc.; and Tracy Mullin, the NRF’s president and CEO.